Acadia Healthcare (NASDAQ:ACHC) Sees Large Volume Increase After Better-Than-Expected Earnings

Posted by on Apr 28th, 2023

Shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC – Get Rating) saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 540,459 shares traded hands during trading, a decline of 4% from the previous session’s volume of 561,089 shares.The stock last traded at $72.47 and had previously closed at $74.11.

The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). The company had revenue of $675.30 million for the quarter, compared to analyst estimates of $659.17 million. Acadia Healthcare had a return on equity of 10.19% and a net margin of 10.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ACHC. Mizuho dropped their target price on Acadia Healthcare from $87.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, March 6th. Stephens dropped their target price on Acadia Healthcare from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 1st. StockNews.com initiated coverage on Acadia Healthcare in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Cantor Fitzgerald initiated coverage on Acadia Healthcare in a report on Thursday, April 20th. They issued a “neutral” rating and a $83.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Acadia Healthcare from a “hold” rating to a “sell” rating and cut their price objective for the company from $75.00 to $63.00 in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.80.

Hedge Funds Weigh In On Acadia Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Acadia Healthcare by 156.7% in the fourth quarter. SG Americas Securities LLC now owns 19,501 shares of the company’s stock worth $1,605,000 after acquiring an additional 11,903 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Acadia Healthcare by 2.7% in the fourth quarter. Oliver Luxxe Assets LLC now owns 10,810 shares of the company’s stock worth $890,000 after acquiring an additional 284 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Acadia Healthcare in the third quarter worth $343,000. Great West Life Assurance Co. Can acquired a new stake in shares of Acadia Healthcare in the third quarter worth $4,283,000. Finally, Mount Yale Investment Advisors LLC grew its stake in shares of Acadia Healthcare by 50.4% in the third quarter. Mount Yale Investment Advisors LLC now owns 9,643 shares of the company’s stock worth $754,000 after acquiring an additional 3,232 shares during the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

Acadia Healthcare Stock Performance

The firm’s 50 day moving average price is $73.45 and its 200-day moving average price is $79.43. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.58 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.30 and a quick ratio of 1.30.

Acadia Healthcare Company Profile

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Acadia Healthcare Co, Inc engages in the provision of behavioral healthcare services. It operates through the following business segments: United States (U.S.) Facilities and the United Kingdom (U.K.) Facilities. The U.S. Facilities segment is classified in the following categories: acute inpatient psychiatric facilities, specialty treatment facilities, residential treatment centers, and outpatient community-based services.

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